Due to globalization, almost every business wants to expand and establish itself in the International market. As cut-throat competition is forcing them to face intense competition in the domestic as well as international market. Their sustainability and profitability are becoming a question mark.
So, to make their presence felt internationally, companies not only need out of box strategies but also the right kind of people. Those who have a specialized degree in international business and understand its aspects are the best choice.
Therefore, MBA graduates who specialize in International Business are the key resource for those companies to plan, execute and get results from international operations of the business.
It should thus come as no surprise that many companies and organizations are now hiring the MBA graduates specializing in International Business to ensure company’s interest and business growth in the foreign market.
The demand for MBA graduates has only increased in the past couple of years, various colleges are offering great study programs for students to avail all the benefits of this professional study course.
Let’s analyse the demand and scope of MBA in International Business:
Why pursue MBA in International Business?
International Business is a career program which offers ample scope for a career in international & transnational corporations. With the huge growth of international business, the demand for skilled individuals has increased who have an understanding of global markets.
A student having the degree in international business can be a part of private and government sectors. This specialization provides the great opportunity to work in a global market and across the world.
An MBA in International Business graduate often discovers that there are lots of job opportunities not only in India but also in abroad. You can also work in financial institutions, banking sector, securities firms, hospitality & travel and tourism industry.
The role and responsibilities of a professional in international business are much different, and definitely more important, than their traditional counterparts. If you decide to pursue this stream, you will be expected to not only be good at every aspect of business i.e. Marketing, Finance, HR, Operations, IT etc. but also know about Business Laws, language, and culture of other countries.
As an MBA in International Business, after gaining experience, you will be working as Export Manager, International Business Development Manager, International Finance Manager, International Business Consultant, International Marketing Manager, Project Manager, Investment Banking Managers, Accounts Manager, Brand Manager, International Logistics Manager
Job Prospects after MBA in International Business
- Administrative Service Manager
Administrative service managers can provide international companies assistance with efficient operation and services. These workers often oversee the centralized operation of multiple areas within the company like mailing, scheduling, distribution and data processing.
An administrative service manager also provides his or her company with strategies that will help improve the company working model, by examining energy saving techniques or transportation costs.
- Chief Executive Officer
Chief executive officers with international business experience can work and manage overseas companies. CEOs who work in the United States can be expected to do business with overseas companies, making international business knowledge valuable. Working alongside other top executives, CEOs help establish and choose a company’s policies and goals.
- Export Managers
Export Managers plan and coordinate the international shipment of goods. During the course of the day, they may negotiate with a variety of people, such as shippers, agents, and vendors, and are expected to have excellent customer service skills in dealing with customers.
- International Business Development Manager
Business development (also known as “biz dev” in urban language) is a combination of strategic analysis, along with marketing and sales. Business development professionals can be involved in everything from the development of their employers’ products and services, to the creation of marketing strategies, to the generation of sales leads, to negotiating and closing deals.
- International Finance Manager
The duties of an International Finance Manager include reviewing financial reports, monitoring accounts, and preparing activity reports and financial forecasts. They also investigate various ways to improve profitability and analyze markets for business opportunities, such as expansion, mergers or acquisitions.
- International Business Consultant
International business consultants provide both information and advice to their hiring companies about business strategies etc. with or in other countries. If you decide to take this option as a career path, you may end up working for top management consulting companies, those which are already operating in international markets, or companies planning international expansions or investments. You may also be self-employed and provide your services on a contract basis.
- International Marketing Manager
Global marketing managers are responsible for maximizing their firms’ international market share and profits. Global marketing requires being aware of global market trends and developing products that meet international demands. Global marketing managers also work to establish competitive and profitable pricing strategies.
- Project Manager
The job of a project manager is to plan, budget, oversee and document all aspects of the provided project. Project managers may work closely with upper management to make sure that the scope and direction of each project are on schedule, as well as other departments for support.
- Investment bankers
The job of an Investment banker is to help their clients raise money in capital markets by either selling equity or issuing debt in the companies. Other job duties of an Investment banker include assisting clients with mergers and acquisitions, and advising them on unique investment opportunities, for example, derivatives.
- Brand Manager
The job profile of a brand manager includes different responsibilities, like monitoring market trends and overseeing advertising and marketing activities, thus ensuring that the product or service is always presented in a bright light.
They work closely with many teams, including product developers, researchers, marketing personnel and creative agencies to make sure their company brand values and image are followed. They work both for consultancies and in-house marketing departments.
- International Logistics Manager
The Logistics Manager will be required to handle technical details relating to possibly international transportation, such as customs regulations and any necessary documentation. If you decide to pursue this job, you will be required to efficiently evaluate the costs of transportation, services, and inventory within any budget or distribution strategy.
The Logistics Manager must also have knowledge of national and international import/export legislation and must be able to effectively troubleshoot any issues that may arise in international freight transportation. You are also required to build relationships with Logistics mediators and work closely with package engineers to ensure the protection of freight in transportation.
For a Logistics Manager, documentation and organization are important – any changes to operating procedures, prioritization or any problems must be documented and communicated accurately.
Salary Offered after MBA in International Business
This field offers good opportunities to earn handsome salaries. Also, gives chance to pursue a career in abroad and get paid in foreign currency. This degree from top institutes can make all the difference.
A postgraduate degree holder in the field of International business from a reputed institution can easily score a salary between 5 lakhs and 12 lakhs per annum as a fresher.
People with enough experience in the field can earn in crores annually. The main factors that determine the salary of MBA people in International Business seem to be the work experience and the annual turnover of the hiring company.
Top companies that Recruit
The top recruiters of the MBA in International Business are as the following:
McKinsey & Company, Boston Consulting Group, Bain & Company, Merrill Lynch & Co
Deloitte Consulting LLP, Lehman Brothers, JP Morgan Chase & Co, Goldman, Sachs & Co
Citi, Booz & Company, Accenture, Johnson & Johnson, Credit Suisse, Deutsche Bank
Morgan Stanley, UBS, Bank of America, Microsoft Corporation.
I hope this article helped you with your queries about the MBA course in International Business. If you have decided to pursue this stream, rest assured as your decision is absolutely in your best interest. If you aren’t though, reading this article might have appealed to your better senses.